Yokohama Rubber Co. of Japan said that between now and 2015, Yokohama will invest $118 million in its plant about 40 miles from Manila, the capital of the Philippines, increasing the plant's capacity by 25 percent to produce 12.5 million passenger tires and light truck tires annually. The plant is now operated by Yokohama Tire (Philippines).
According to the Japanese media, the reduction of European production and sales, exit from the European market of car and tire manufacturers have emerged. Suffering from the ongoing economic downturn in Europe, low factory operation rates and falling sales, companies are turning their attention to emerging economies such as North America and Southeast Asia, where demand is growing, to secure profits.
According to Chongqing Morning News: January 27, Hankook Tire Chongqing plant phase I project officially put into production, a day of 800 tires. The first phase of the project, which will be fully completed in the middle of this year, will produce 2,400 tires per day. The second phase of the project (passenger car tires) will start construction in the second half of this year.
On December 10, 2012 China's Top 100 Chemical equipment and Top 10 Chemical Unit equipment conference was held in Xi 'an, Shaanxi province. The top 10 enterprises in the top 100 list are: Shenyang Blower Group, Xi 'an Shaanxi Drum Power, Harbin Boiler Factory, Shanghai Boiler Factory, China First Heavy Industry, China Second Heavy Industry, Hangzhou Boiler Group, Taiyuan Heavy Industry, Nantong CIMC, Hangzhou Hangoxygen
According to business news, the Malaysian Rubber Export Promotion Council (MRPEC) and the Chinese secretariat of the China-Asean Business Council (CABC) recently signed a memorandum of understanding on cooperation. The two sides will strengthen cooperation, share information, jointly organize meetings and training, carry out promotion activities of rubber products, push forward the removal of tariff and non-tariff barriers of rubber products between China and Malaysia, and promote exchanges and cooperation between Chinese and Malaysian enterprises engaged in the production and trade of rubber products.